Dooling Corporation Comparative Balance Sheet ng Beginning Balance Balance Assets: Current assets 52 53 Cash and cash equivalents 85 84 Accounts receivable Inventor 64 62 Total current assets 201 199 Property, plant and equipment 712 565 Less: accumulated depreciation 263 296 4419 269 Net property, plant and equipment LS650 LS468 Total assets Liabilities and stockholders' equity: Current liabilities. Accounts payable 59 63 36 35 Accrued liabilities 64 63 Income taxes payable 159 166 Total current liabilities 76 70 Total liabilities 235 236 Stockholder's equity Common stock 51 50 Retained earnings 364 182 Total stockholder's equity 415 232 S650 S468 Total liabilities and stockholders' equity Income Statement $930 Sales 541 Cost of goods sold Gross margin 389 119 Selling and administrative expenses 270 Net operating income Gain on Sale of plant and equipment 37 307 Income before taxes Income taxes 92 215 Net income